and as michelle cabrera tells us, it would provide new opportunities for u.s.-based oil companies. >> reporter: there is only one oil and gas company in mexico. it has been that way since 1938. in the middle of a socialist revolution, the company kicked out all foreign oil companies and the government took control of the production. for decades, they were one of the top producers, but not anymore. down from 3 and a half million barrels s a day in 2004, to le now. the spokesperson said the key to a turn around, accessing the oil in the deep gulf of mexico. deep water drilling is very expensive. just renting a platform costs up to half a million dollars as a day. they spent more than 20 billion, however, they think they need $60 billion. the problem is, they don't have that kind of money. >> reporter: so the mexican president is pushing for reform which finally would allow foreign investment. the debate is expected to begin this week on just how far the reform reforms will go. the more generous they are to foreign companies, the more investment they will get, but